ZALE CORP ZLC:NYSE
rose $2.00 from $18 to $20 in the intraday trading for company news said that
ZLC will cut more jobs 20% of HQ staff and close 23 more stores to save $65M/Yr.
This news sent its price higher than 10%.
But the fundamental said the economy is in the recession, lower operational margin and more competiton.
The analysts see earnings 2008 trun to red with low ROE 3.85%.
So, this $20 level may be a good short position.
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